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20121120
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Search Results 0 to 43 of about 44 (some duplicates have been removed)
to tackle the impending fiscal cliff but the president and the speaker of the house john boehner each drawing lines that they say they will not cross. the major hurdles, that threat to send the economy into a tailspin, that's coming up next. >>> plus a nascar race turning into a full-scale brawl. look at this. mayhem breaking out of the everybody going at it. we'll tell you what set it off. after this. ve lately. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. jenna: well come back, everyone. now let's return to the economy. the president and house speaker john boehner are suggesting they are willing to compromise to prevent our economy from going over that so-called fiscal cliff but both sides are digging in their heels whether or not to race tax rates for the wealthy. rich edson of the fox business network watching
he does certainly from the far right of his party. you saw boehner say that the party wants to be led. they want to be led as americans, not republicans. again, i think you have somebody like bill crystal who comes out and says republicans need to be more flexible in terms of talking about tax reform. i think norquist in that clip showed a real misreading of what the election was really about. i prish his use of the word -- >> an odd choice of words. >> poopy head. >> they got a thumping here. this is the first president since ronald reagan to win the popular vote in two consecutive elections. they're trying to deny his legitimacy still. >> not all. >> grover norquist is. >> and speaker boehner has said they're ready to be led. >> thank god for one reasonable person. >> he says he's the most reasonable. >> we'll see what happens in january, though. he has that radical right wing tea party caucus to deal with in the house. i want to see them come to grips with reality. >> great pleasure having you both on. as people continue to suffer in the wake of hurricane sandy, thousands are homel
that in place we are removing half of the fiscal cliff. >> speaker john boehner offered what he considers a balanced approach generating the revenue from tax reform and entitlement reform. late today, boehner said the president's position is flawed. >> we are not going to hurt our economy an make job creation more difficult. which is exactly what that plan would do. >> letter sent by the u.s. chamber of commerce and signed by 232 organizations calls on the president and congress to immediately extend all the tax cuts and find other cuts to replace sequestration. the president suggested taking a closer look at reforming entitlements without offing details and says he would like to simplify the tax code. mr. obama says he wants congress to act now to extend tax cut for middle class and try to avoid boxing himself in on upcoming negotiation. >> i'm open to come plo mize and new ideas. i have been encouraged for republicans to agree to more revenue as part of the arithmetic if we are serious to reduce deficit. >> the top republican in senate who is a key player in upcoming talks says raising
of a change. john boehner will be the speaker of the house, you know, unless something unforeseen happens in the next few weeks. he will be, he will keep the reign. the republicans gained, you know, a few seats, but that's not really going to effect his shot. he ran unopposed in ohio for his own race, and the defining conflict of the republican conference in the 112th congress, this sort of conflict between eric cantor, the majority leader, and john boehner, the speaker, is really behind them at least, you know, from everything that we have seen. the -- so that is remarkably stable, the first three positions. john boehner will be, you know, the next speaker, eric cantor will be the majority leader, and kevin mccarthy will be the majority whip. where it starts to get interesting is for the conference chairman position. this is currently held by jeb hensarling who is making a bid to be the financial services chairman. hensarling has been a sort of rising star for a while within republican ranks. he was a republican study committee chairman which is sort of the top conservative position in r
seem to be moving closer to a key sticking point. >> speaker boehner seemed to suggest that he was open to closing loopholes, to real tax reform. can you get there by just closing loopholes, or will it take more than that? >> well, look, i don't want to prejudge the discussions. i think that the speaker's comments have been encouraging and there is obviously money to be gained by closing some of these, closing some of these loopholes and applying them to deficit reduction. there are a lot of ways to skin this cat. gregg: illinois congressman peter roskam joins us. he is on the house ways and means committee. he joins us from chicago. good to see you. house speaker boehner says he will oppose any increase in tax rates. and the white house said on friday, and i will read this directly, the president will veto any bill that includes an extension of the current tax rates for those earning more than $250,000 a year. so congressman, where is the come promize? >> i think the best predictor of future behavior is past behavior. we've heard this language coming from the white house before. we hea
'll play their hand i think to their full advantage. >> what kind of hand does john boehner have? where sg it leave him and his ability to control the tea party wing? >> it actually puts skron boehner in a good position because during the debt ceiling talks last year, he had a lot of push back from the very far right of his party in the house. the tea party caucus, for example. this time around we won't see the same dynamic at all because the tea party caucus and far right have lost a lot of political capital in light of the election. so what we've already seen is speaker boehner talking to republicans in the house, putting his foot down early and saying we're not going to have that same push back we saw. instead, i'm going to tell you what we're going to do and what this deal is going to look like and you'll fall into line. >> he got criticism because he negotiated a deal and then went back and tried to sell to the party. does he naed to do he need to d way around, get a set position and then go into discussions? >> i think that is the thinking this time around. and he has certainly recog
the nation's debt crisis. but speak john boehner told house republicans that after last week's election a mandate from the american people is to work together, even if it means additional revenues through tax reform. meanwhile bill crystal editor of "the weekly standard" seemed to cave in on the president's demand that wealthy people pay more. >> it won't kill the country if we raise taxes a little bit on millionaires. it won't. really the republican will fall on the sword to defend millionaires half who voted democratic and half who live in hollywood. >> administration officials are already suggesting to congress that mr. obama is willing to let the deadline pass, let tax rates go up and spending be cut. if he can't get the deal he wants. >> bill plante in washington. thank you. later this morning we'll ask conservative activity jaft grover norquist if republicans are backing away from his no tax increase pledge. >> two weeks ago sandy battered the northeast. hundreds of homes and businesses have no power. most on long island. the governor of new york is calling for an investigation as
provisions giving you 1.6. the starting point for the administration. john boehner about a year and a half ago stopped about 800 alien dollars worth of revenue through tax reform. republicans won't give a number now but they want tax reform and an overhau overhauled the entirm to generate new revenue. there was talk about this yesterday with treasury secretary commissioner who said to that idea pretty much forgot about it. >> there is a lot of magical thinking about how much money can raise from tax adventures. people will look at that question and concluded i think incorrectly that there is a huge amount of resources. i think that is untrue. >> a dozen of ceos meet with the president and a couple of hours from now after the president's news conference at 1:30. a number of these executives have been to the white house before. members of the export council, jobs council, ceo of of ge, tao, ford, also say what the white house on the different councils in some form or another. cheryl: we will be taken the tae news conference from the president lives and the ceo will have something to chew on
they will or will not go on this issue. house speaker john boehner says he believes they can reach a deal. >> i don't think anyone, on either side of the aisle under estimates the difficulty that faces us. but i do think the spirit of cooperation that you've seen over the last week from myself and my team, from democrats across the aisle, from the president, have created an atmosphere where i think that, i'm, i remain optimistic. i was born with a glass half-full. >> what i have told leaders privately as well as publicly, is that we can not afford to extend the bush tax cuts for the wealthy. what we can do is make sure that middle class taxes don't go up. 98% of americans are not going to see their taxes go up. 97% of small businesses are not going to see their taxes go up. if we get that in place, we are actually removing half of the fiscal cliff. martha: doug schoen, former pollster to president bill clinton. monica crowley, radio talk show host. both are fox news contributors and what i'm hearing through both of those quotes we're pretty much where we were the last time that the president and john boehn
of congress. republicans john boehner and mitch mcconnell and democrats nancy pelosi and harry reid. >> we had a very constructive meeting with the president to talk about america's fiscal problem. >> we all know something has to be done. >> it was good. i feel confident that a solution may be in sight. >> we're prepared to put revenue on the table, provided we fix the real problem. >> tax hikes and spending cuts could go into effect simultaneously if no deal is reached on the fiscal cliff by the end of the year, both sides have said they are willing to compromise. house speaker boehner says republicans realize that neither side will get everything it wants. >>> exactly one week after he abruptly resigned as head of the cia, david petraeus was back on capitol hill. he met yesterday behind closed doors to brief lawmakers on the september 11th attack on the u.s. consulate in benghazi. according to lawmakers who were there, petraeus now says the attack was an act of terrorism and not the result of a spontaneous anti-western demonstration as initially reported. four americans died in the benghazi
want to take you back to the live camera positions. this is outside of the white house and john boehner taking the microphone and let's listen in. >> by significant spending cuts. and while we're going to continue to have revenue on the table, it is going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. i believe that we can do this and avert the fiscal cliff that right in front of us today. >> this isn't the first time we have dealt with these issues. we feel we understand what the problem is. we felt very -- i feel very good about what we were able to talk about in there. we have a cornerstones of being able to work something out. we're both going to have to give up some of the things that we know are a problem. and so it is like when we arrive at a point where we all know something has to be done, there is no more let's do it some other time or we're going to do it now and i think there is we feel very comfortable with each other and this isn't something we're going to wait until the last day of de
to tax cuts for the wealthy. that puts her at odds with john boehner. >> could you accept a deal that does not include tax rate increases for the wealthy? we've seen talk about a possible compromise that would leave rates the same but tax deductions for high income earners. is that something that's acceptable? >> no. >> not at all. >> the president made it clear in his campaign that there are not enough resources. what you described is a formula and a blueprint for hampering a future. you cannot go forward -- you have to cut some investments. if you cut too many, you are hampering growth, you are hampering education and investments in the future. >> even thousands of miles away it appears president obama is still focused on negotiations. while touring a royal monastery with secretary of state clinton the president was overheard mentioning the budget talks to a monk. the president later clarified his comments at a news conference. >> i always believe in prayer. i believe in prayer when i go to church back home and if a buddhist monk is wishing me well, i'm going to take whatever g
candidates. but romney was beaten with a tax plan not dissimilar from the one boehner is currently pushing which is we won't allow taxes to go up, but we will close loopholes and romney lost on that. so there is a sense that obama for the short term has won the argument. >> granted it's a huge issue, but how many people was this election really a verdict on their tax plans? >> well, the argument is that romney often polled very well on competence in the economy, but obama polled much better on understands the needs of people like me. so there's a sense that if it comes down to class and empathy, the democrats have momentum here and the republicans are on the back foot. so in that sense, i think obama has an advantage. on the other hand republicans do have a good case to make when it comes to taxes because something that's not often discussed is that the costs of obama care will start to kick in in 2013. one example, businesses which hire 50th notice ewill face a fine of $40,000 if they don't take on government approved health care insurance. so republicans can argue that when we approach t
boehner, the president proposed $800 billion in new tax revenues. but now, he is seeking twice that. $1.6 trillion in new taxes over the next ten years. that's a bitter pill for republicans to swallow. speaker boehner has called raising tax rates on anybody unacceptable. but he hasn't ruled out limiting deductions and closing loopholes. and that could be the outline of a possible deal. >> if you looked closely at what the president had to say, looked closely at what i have had to say, there are no barriers here to sitting down and beginning to work through this process. >> reporter: but if they don't come to a resolution, beginning january 1st, the economy could be thrown back into recession. and households making $70,000 a year could see their taxes increase over $4,000. the president said he is open to new ideas. and if republicans have a way to raise taxes on the wealthy without raising rates, he wouldn't slam the door on them. george? >> the dancing begins. jon, thanks very much. >>> let's get to josh and the mounting violence in the middle east. >> as we all slept, we're going to b
from john boehner and -- >> yeah, from boehner i am. the president has now painted himself -- painted those guys in to -- how many times has he drawn a line in the sand about that high right on 250. he's made a point and he can't possibly go back on that now, can he? >> i think he can. look, i think he's drawing a line on getting money from those people, there people making 250 and above. but he hasn't drawn a line on how he gets that money. he's said at his news conference i'm skeptical that you can do enough in loopholes and exclusions to get the money that we need for a deal from that group. but he also said i'm open to new ideas. so if there is in fact an effort to close some loopholes that gets you some of the way there, you can certainly see the president, i could anyway, compromising somewhere between 35 and 39.6 on a slightly higher rate. if shall be caomebody came up w source of revenue which didn't change the distribution of the tax burden, figure out a way to do it without a top rate. i kind of expect what's going to happen is loophole closing and you end up at like 37 ors
elected us to focus on your jobs. not ours. >> reporter: the president and house speaker john boehner each are drawing a line in the sand over letting the bush era tax cuts expire for americans making more than $250,000 a year. >> instead of raising tax rates on the american people, accepting the damage it will do to our economy, let's start to actually solve the problem. >> reporter: the speaker wants a tax overhaul that raises money by cutti't hammer out a deal by year's end, the nation goes over the so-called fiscal cliff. taxes go up for everyone. an average of almost $3,500 per househo household. republicans say they want the president to address the real problem. >> and the real problem is uncontrolled entitlement spending, and a government that has grown massively. >> reporter: democrats say republicans are going to have to compromise. just like the president and his party did after getting walloped in the 2010 elections. >> we cut $900 billion in spending that we didn't like, painful to us. >> reporter: in washington, a high stakes search for middle ground. the president and the sp
a tax increase. if speaker boehner says i'll go along with that, that's where we'll start. i think e converti is under way for a solution. >> ifill: senator durban, are you kicking the can down the road by only talking about the tax ruts and not talking about the spending cuts as well? >> let me tell you something, i was on the bowles simpson commission, i voted for it, bipartisan commission that included spending cuts as well as revenue increases. i know that to reach four or five trillion dollars in deficit reduction you need to put everything on the table. not just taxes for the wealthy. that's an important piece of it, but it isn't all of it. you ed much mor >> the president said today in his news conference that he was very familiar with the literature on the overreach of presidents in their second term or their potential for overreach. do you think that's a possibility here? do you see that? we have heard, for instance, republicans say, hey, we can talk about immigration now. is it possible that some things actually are in reach? >> oh, i do think -- i think immigration reform
comments made by john boehner who argued against any tax hikes as part of the deal to avoid the so-called fiscal cliff. >> instead of raising tax rates on the american people, the damage it would do to our economy, let's start to solve the problem. this focus on tax reform, close special interest loopholes, and lower tax rates. instead of accepting arbitrary cuts that will endanger our national defense, let's get serious about shoring up the entitlement programs that are the primary drivers of our country's massive growing debt. >> sarah anderson, your response? >> it is crazy to be talking about, as he said, shoring up in time of programs. that is just washington speak for reducing the cost of these programs and limiting access. to think we need to shift the burden onto the backs of the poor and elderly is crazy, when we are in one of the richest countries -- the richest country in the world. our problem is our resources have been misallocated. the approach to the debt should be to look at the ways that we could raise revenue through fair taxation, including tax and financial tran
. boehner will be the speaker of the house unless something unforeseen happens in the next few weeks. he will keep the reins. the republicans lost a few seats, but that is not going to affect him. he ran unopposed in ohio for his own race, and the defining conflict of the republican conference in the 112th congress, the conflict between eric cantor and john boehner the speaker is really behind them from everything we have seen. that is remarkably stable, the first three positions. john boehner will be the next speaker, eric cantor will be the majority leader, and kevin mccarthy will be the majority whip. where it gets interesting is for the conference chairman position. that is currently held by jeb hensarling, who has been a rising star for a while within republican ranks. he was a republican study committee chairman, which is the top conservative position in republican circles in the house. there are two people making a run for conference chairman, tom price, who is also a former committee chairman of the past. he is currently making a bid for conference chairman, and then cathy mcmorr
think they've already agreed to that. you heard john boehner say that already. we've had voteses in the senate where we've gotten rid of tax credits. i think that's a given. and i think that the vast majority of measures agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem and that's uncontrolled entitlement spending and a government that has grown massively. >> i think if the house stands for anything, it's cut government spending as tom coburn said and i think we'll have to do more of it. we heard the mandate in 2010 where it was a clear mandate cut spending and we did, we cut $900 billion in spending that he can't like painful tos us. >> we'll continue our call to rise bol politics and make a deal. oufr guests this morning include mike jackson and also david zaslav. and the head of maris group. and douglas holtz-eakin. >> let's talk about eurozone finance ministers meeting to discuss whether to release a new tranche of fund to go greece. the leaders are not expected it to okay the funding despite greec
that we've seen since the election, whether it's from the president or the house speaker john boehner, but i can tell you in talking to sources privately on both sides of the aisle, they admit that it's all about positioning and posturing to make sure at the end of the day if we do go off the fiscal cliff that they're not blamed for it. they're the ones who looked reasonable, not unreasonable, and they're preparing for the other side to blame them for the opposite, if that makes sense. that's a lot of what you are saying in public. the reality is that neither side has a really clear machine date or clear vote and no one wants to look at the end of the day like they never gave compromise a chance. listen to republican bob corker, though, because there does seem to be a little bit of a crack on the republican side on whether or not it's okay to raise some taxes. >> i think there is a deal. the ying and yang is we know there has to be revenues, and i think -- look, i haven't met a wealthy republican or democrat in tennessee that's not willing to contribute more as long as they know we so
to look at what prominent republicans have been saying about this since the election. john boehner said, a couple of days after the election, that it was time to work on this reform. this got his caucus irritated. host: let's show the folks some of what he said in that statement. [video clip] >> i am not talking about a seven page bill. i am talking about a comprehensive approach to fixing the borders and a broken immigration system. again, on an issue this big, the president has to leave. i think members on both sides of the aisle want to resolve this issue. host: you said that his caucus was surprised by this statement? guest: from louisiana they put out a statement saying that he was upset about many of the things that boehner said, not just immigration, but conversations on the debt in the next couple of weeks. this problem has been in the house since long before the tea party showed up. the rank-and-file get a little bit nervous, understandably. i think that some of them could possibly lose elections, if they are forced to vote on something as controversial as a path to citizenship
when you saw nancy pelosi out there. you saw john boehner out there saying we are hopeful we can get a deal done. and the market had a positive reaction to that. yet it lost that upside throughout the day, teetered back and forth between positive and negative territory. finally, closing the day out positive, so perhaps that suggests that maybe we are a little bit closer. but here's the thing, randi, they've got to get something done. they've got to solve this issue. because if not, the consequences are severe. >> but you listen to some people, and they suggest that fears of fallen off the cliff are overblown. what are the real consequences here? >> the real consequences are another recession. i mean, i can tell you every ceo that i'm talking to right now says i'm not making major decisions. i'm waiting. i'm standing by the sidelines. i can't hire a lot of people, i can't invest in a lot of infrastructure because i don't know what the landscape is going to be in the next 45 days. i don't know what the landscape is going to be in the next three months. so there's a lot of holdup. now,
says he wants to see higher tax rates. john vitter says axel in not. >> -- john boehner says clearly not. >> it is a lot easier to say at this level of generality. it becomes harder to enacted. the number of times of with the head of the cbo, senator so and so would call me up and say i want to talk about tax reform and i would walk in and the head is one talking point which is brought in the base and lower the rate. what are you willing to scale back? mortgage interest, cannot touch that. charitable, cannot touch that. you go down the list. one of the reasons of these new ideas being attractive is a are obscuring what has to be cut back. >> there is still a hard choice there. >> we are not saying we are going to cut out your ability to deduct your mortgage but i will get to keep my ability to deduct my local tax. everything goes into a pot. everybody gets to keep their deductions but you cannot be too greedy about it. it does have to limit the amount they can benefit from it. >> that is the selling point. >> the notion here, can you do this and have the only effect of the wealthiest
republicans. listen who what house speaker john boehner said about that throwing cold water on it. >> at this point i think that the standing committees of the house whether they be the oversight committee or the intelligence committee are working diligently on these issues, and at this point i think that's appropriate. >> now, what john mccain and his colleagues are arguing is that there's too much stove piping going on. there are too many committees, and twoul today is a good example. there are hearings going on all over capitol hill and then probably will continue to be. they think it all should be streamlined into one committee, but, suzanne, using the term watergate, using the term coverup, saying what did he know, when did he know it, talking about the president, not exactly a way to get bipartisan support for something that, you know, democrats clearly don't want. it is absolutely -- you mentioned at the beginning, very, very tense, particularly between these two old rivals, john mccain and president obama. >> not the way to bite -- get the bipartisanship going. okay, dana.
negotiate with speaker boehner, mitch mcconnell, or does he come in, give a set of demands and go hold a press conference? they can, i believe, hammer out -- >> same can the said on the other side, by the way. >> but if the president is willing to do it, the republicans have no choice. i mean, you can't turn down a president who just won re-election if he's sincere and willing to negotiate. >> going to take some bold initiatives which is my segue into your book, okay, because you've written this book about george washington and his bold moves to break the stalemate of the revolutionary war. so much has been written about george washington. what do you want readers to take away from this book that's new? >> well, i think particularly this morning is the launch of an american legacy book tour that calista and i are doing because she has two new children's books out for american history. the first thing is to say to people we have a long history of overcoming adversity. george washington is probably the greatest example of that, and in "victory at yorktown" you see him faced with a strate
can tell you that the guys in the house and boehner, they really want to do this, this limiting deductions, limiting loopholes, raising effective rates, but lowering nominal rates. they want to do it that way but the president may say no and those guys in the house will say no and we might, it might happen. >> it might, but look, this is a leadership moment. we have a a leader who now has second term. he's a president. he's a fascinating individual in many respects. he's part of the problem. >> what gives you any indication he'll lead in this case? >> maybe he'll wake up to the fact that he has a chance to cut through the polarization and leave a winning legacy. this is his chance to rise above. give him a button. >> there you go. thank you for that, steve. we have more ahead from steve. coming up, we're going to talk about several stocks on the move ahead of the opening bell. we'll get down to "mad money's" jim cramer. "squawk on the street," jim cramer right after this. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker
Search Results 0 to 43 of about 44 (some duplicates have been removed)